UC's Stephenson signs with Hornets

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Former UC guard Lance Stephenson has signed a 3-year, $27-million contract with the Charlotte Hornets, according to multiple media reports.

Stephenson played at UC in 2009-10 before leaving for the NBA after one season. He averaged 12.3 points and was named the Big East Rookie of the Year. He was drafted by the Indiana Pacers in the second round with the 40th pick overall.

He spent his first two seasons mostly watching from the bench before blossoming in 2012-13 when he became a starter. Last season he averaged 13.8 points, 7.2 rebounds and 4.6 assists. He shot 49.1 percent from the field, 35.2 percent from 3-point range.

"Lance is forever grateful for all the love he's received from Pacers fans. He is especially grateful to his teammates, [Pacers coach] Frank Vogel, [owner] Herb Simon, the Pacers management and most of all, Larry Bird," Stephenson's agent, Alberto Ebanks, said in a statement on the ESPN web site. "While we tried our best to come to the best possible terms for both sides, there was not sufficient flexibility in the terms of the contract, particularly the length of the contract."